In spite of Horatia's laugh and her attempt to be as cheerful as ever, depression seemed to have fallen on every one, and Sarah looked the picture of melancholy.

'We'd better go and get ready for our rink-party. I expect everybody will be thankful to have something to do this horrid weather. Not that I mean that they will have accepted your invitation for that reason,' Horatia added hastily.

'Oh, they come because we're rich, of course,' said Sarah; and then she suddenly added, as if it were weighing on her mind, 'I wonder how many would come if we were to lose all our money. Would you, Horatia?'

'Thank you for the compliment. No, I don't think I should; but I should not stay away because you were poor, but because you are not what I thought you were—your character, I mean,' said Horatia, who could speak her mind at times, as will have been noticed.

'You would be the exception if you did stick to us. I expect Uncle Howroyd will, and Naomi, and she will have to be our general servant,' continued Sarah.

Horatia gazed at her in amazement. 'What in the world are you talking about? How are you going to get poor? Oh,' as a thought struck her, 'is there anything the matter? Do you know, to-day I thought there was. Tell me, is there? Because, if so, I don't mean what I said. Of course I will come and see you, and help to cook, too. I can make toffee.'

But instead of answering, Sarah demanded, 'Why did you think there was something the matter to-day of all days, when father has just shown you how much money he can spend merely for a few hours' amusement? What made you think anything was wrong?'

'I don't really know, now that I come to think of it. I don't think I had any reason; it was an idea that came to me while your father was talking at lunch,' replied Horatia, hesitating.

'It must have been intuition,' said Sarah solemnly.

Horatia was not only a year younger than her schoolfellow, but she was far less fond of study, and she said frankly, 'What's intuition? I know what tuition is, because my brother has it—private tuition from his tutor; but what you mean I can't think, and I do wish you'd speak out plainly and tell me if you are in any trouble about money; because, you know, you need not go spending it on me. I'm quite content to play battledore and shuttlecock in the hall, and I didn't want a rink, really.'